India Energy Supplements Market: Introduction
A recent report published by Transparency Market Research on the India energy supplements market includes industry analysisand opportunity assessment for 2021-2031. The overallrevenue generated by the India energy supplements market is estimated to beover US$ 660 Mn in 2021 and is expected toreach US$ 1.5 Bn by the end of forecast period.
Growing Consumption of Dietary Supplements BoostingIndia Energy Supplements Market
The nutraceuticals sector is booming, owing to a surge in the demand fornutritional supplements and a fundamental shift in consumer preferences awayfrom pharmaceuticals among the upper and middle classes. The key drivers of theIndia energy supplements market are an expanding GDP and a growing seniorpopulation. More product introductions, increased investment in the APAC healthindustry, and consumer knowledge about health are few of the factors projectedto raise the demand for this product.
Rapid digitization and rise in social media usage have boosted publicawareness and access to important information about nutrition, holistic health,and wellness. Additionally, as people's worries about nutrition and health havegrown, nutraceuticals have become increasingly popular as essential supplementsfor achieving and sustaining excellent health around the world. Modernmarketing strategies, which allow companies to display a wide range of productsto a highly focused audience via online advertising platforms, have been a crucialfactor in the industry's growth.
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Changing Lifestyle of Consumers to Accelerate IndiaEnergy Supplements Market
India is one of the world's largest economies with a high purchasingpower parity. Individuals' per capita income has risen during the last decade,creating the path for new lifestyles. The incidence of lifestyle diseases hasincreased as a result of changing eating habits, lack of physical exercise, andincreasing in the number of persons working in sedentary jobs.
Due to rising healthcare expenses and burden of lifestyle diseases, themarket for dietary supplements is driven by a paradigm shift towardpreventative health management techniques. Furthermore, future growth of energysupplements is likely to be boosted by digitization in the retail sector.Likewise, the growing popularity of herbal supplements is projected to drivehigher sales.
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Growth of eCommerce to Impact Sales of EnergySupplements in India
India is a young country with a demographic profile that supports theexpansion of eCommerce in general. Rising disposable income, along with ademographic slanted toward the tech-savvy youth, points to bright possibilitiesfor eCommerce growth. Millennials are the most active Internet customers,though older generations with more spending power are becoming more prevalent.Increased Internet availability, a quick drop in data use costs, and the spreadof smartphones are all contributing to the expansion of energy supplement salesthrough online channels. Nearly three-quarters of e-purchases in India are madeon mobile phones.
While consumers have become more health-conscious and the COVID-19pandemic has cemented this tendency, efforts to manage the disease have createda difficult and uncertain economic situation. As a result, growth rates forsupplements that are not considered vital and have high pricing, such asprotein supplements and non-herbal supplements, have been badly impacted.
